What Is The Internet Of Things And How Will It Change The World

(Image source: Pixabay.com)

It’s already been named as the “Next Industrial Revolution” with projections that are through the roof and growth rates that are overwhelming, plus forecasts that show revenues exceeding $470 billion for IoT vendors by the year 2020.

So, the Internet of Things is not something to be ignored. The IoT is such a big deal, in fact, that some cities such as Buffalo, N.Y have created new wireless networks just to accommodate it. So what exactly is the IoT and why is it so significant today?

The Internet of Things Explained

"Internet of Things" is the name we use to describe the next phase of connectivity; it’s a name that has been selected to differentiate from the internet as we know it. Simply put, it’s about plugging everyday things to the web.

Previously “dumb” items will now become “smart” all through the power of IoT. From hair brushes and household scales to thermostats and refrigerator systems, consumer and industrial devices will have chips inserted into them. And this will allow for the collection, collation, and communication of data; the type of data that can help to make our lives easier in every possible way.

Some examples include - smart toasters that can be operated from your mobile phone with fine tuning features for the perfect toast; central heating that can be turned on from the comfort of your car on your drive home from work; or smart rectal thermometers that detect the first sign of illness.

In business, smart technology can completely transform day to day ops, with time efficiency and cost effectiveness at the heart of every operation.

From cutting costs to reducing human error through connected devices and intelligent data, the Internet of Things comes with a lot of positives. Businesses will never be the same again.

How Will the IoT Change the World?

So now, we’ve cleared up exactly what it is, it’s time to ask the next big question: How will it change the world? The Internet of Things is more than just convenience in the home or workplace. The IoT is about creating a smarter, safer, and better way of living.

This infographic shows us how Internet of Things has come to be over the decades, and how it will impact on the lives of people around the world.

(Image source: UK.RS-online.com)

From helping us get things done more quickly to helping us make the most of time and resources, IoT will benefit everyone. And people from every walk of life will see positive changes.

Here are some of the ways that it will transform everyday life.

• Reduce Our Carbon Footprint
  Internet of Things will make greener living accessible to all. Through intelligent programming, we can use smart devices to control energy consumption and make choices that are friendly to the environment.

• Better Healthcare for All
  The healthcare sector will benefit greatly from IoT, with experts believing that new technology could help to improve drug management and disease management, as well as, enhanced patient experience and reduced errors in hospitals/clinics.

• Smarter & Safer Cities
  Imagine cities where parking is led by smart parking technology, where traffic lights are managed by traffic flow intelligence, where roads are a dream to drive on. Machine learning will make our towns, cities, and suburbs much safer for motorists and pedestrians.